One of many give-away comics available through Weeties (The Australian spelling of Wheaties). You would receive one comic free inside each Giant Packet of Weeties.
Variations
This particular comic book is similar to the American printing (Wheaties #D-4) in that the stories are the same, but that's where the similarities end. The front and back cover art is both a different design and different color; this comic is in black and white, whereas the American printing is in color; this printing is Weeties D7, whereas the American printing is Wheaties D-4.
Synopsis
Brer Rabbit is about to be roasted when he threatens to call for the help of Boss Lion. Brer Fox and Brer Bear decide to call his bluff and untie him. Sure enough, Brer Rabbit makes friendly conversation with the lion to the surprise of Brers Bear and Fox. But Brer Rabbit was really offering to give Boss Lion some game foul. So he tricks Brer Fox and Brer Bear into shooting them for him in return for Brer Rabbit telling them how to be friends with Boss Lion. Then, he tricks them again by stealing their payloads away from them and gives it to the lion himself, earning him the good favor of Boss Lion.
Credits
Printed by Rotary Colorprint Co. Pty. Ltd., 15 Hamilton St., Sydney.